Here’s some real life examples of stuff that’s happened to myself & some of my friends using KC area PMs to give you an idea: Not listing a property for rent until a month after it was vacant, not listing a property at all for rent (and owner finds out 3 months later after he keeps lowering the price and lowering the price and can’t understand why it isn’t getting any interest and then finds out PM never listed it), doing half a** repairs that have to be redone or cause more issues and money later, stealing rent money and telling you tenant never paid, putting horrible tenants in your place without doing background searches (they lie and say they did but you do a simple google search and felon mug shot comes up)  & all hell breaks loose ...tenant trashes it, or you have to go through costly eviction cause they stop paying, can’t get your property rented to save their life ...months go by and you get feedback from interested tenants the PM never calls them back....upon confrontation they say they are busy and if a tenant doesn’t call them several times they assume they aren’t interested, being friendly with tenants and letting their rent slide for 4-5 months without eviction, using con artists repairmen who lie and say you need repairs that you don’t, PM paying an insanely high utility bill without question (from your money) or without inspecting for leaks/issues or that there isn’t squatters in there. 

Current as-built drawings, plans & specificationsDescriptions of buildings, physical aspects and systemsSite Plan (with dimensions and identifying tenants and vacant locationsPhase I and if applicable Phase II environmental site assessmentProperty Condition ReportStatus of ADA compliance (including ADA plans)Warranties (HVAC, roof, insulated glass, etc.)Existing exterior, interior, and aerial photographs of PropertyFloor plans with tenant location (CADD/PDF files)Any and all Leases and Tenant correspondenceAny and all Service ContractsGeneral Ledger for the past 3 yearsThree year history of delinquency and bad debtMost recent detailed billing statement for all TenantsTenant ledgers for previous calendar year & YTDCertified Updated Rent Roll and Certified A/R ScheduleList of security deposits and prepaid rentLeasing update (pending deals, LOIs, renewals, lease-up projections)Future Tenant improvements and leasing commission obligationsThree year history of tenant improvements and leasing commissionsCurrent year detailed operating budgetYTD budget vs. actual analysis for current year & 2 prior yearsThree years of operating statements (revenues & expense) historyCapital items/budget forecast (3-year projection)Three year history of capital expendituresProperty Tax bill for current year and previous 3 yearsCurrent Insurance CoverageThree year history of insurance claims and incidentsTenant’s sales volumes for at least 3 yearsThree year occupancy historyExisting appraisal report(s)Confirmation of ZoningCertificate of occupancy/use permitsStatus of pending litigation and/or threatened condemnationMost recent title insurance policyMost recent as-built surveyCAM Reconciliation for prior 3 years

If you are talking Single Family homes in SE Michigan, not Detroit with a value of 50K to 300K with replacement cost being $110/sq ft,  built post-WWII,600-1100/yr. thats a sliding scale based size, value.Of course that number reduces with volume.

It has brand new windows and sliding glass door.

@Justin Glass Keep it, I'll bring my 12 gauge and do some hunting!  

It's like walking barefoot on broken glass.  

Aside from a couple broken panes of glass they seem structurally sound.

With that being said, I have seen prices continue to slide and will be amazed to see how far they go in another 2 years.

They didn't go inside for ours, so the majority of what they required from us were things visible from the exterior of the property (unfortunately our garage door is glass, so that's how they saw there was a bed in there).

We have our welder install window bars inside the windows and they are designed to look like the French windows where the metal is between the double panes of glass.